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March 2018

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Recently, Hong Kong Citic Group and Hong Kong Huangyang Co announced that both companies had collaborated to set up a Hong Kong Textile Center in Chongqing city.

This center is expected to cover about 2,10,000 square meters, with first phase spread out in 1,00,000 square meters.

The project, with the total investment of 300 million yuan, will be a major production base for fasteners, fabric, zippers and other clothes accessories.

It will cater to Chinese textile industry, assisting enterprises to fulfill domestic demand as well as penetrate Hong Kong market.

This project will also be house to clothes wholesale market.

So far, over 120 clothes enterprises have registered to set up a production base in the center. It's estimated that the fixed assets will be worth more than 10 billion yuan within 3 years. The annual production value is expected to touch 5 billion yuan.

Experts believe that, this Center will become very popular and help local enterprises cope with the pressures of current international market scenario.